August 20, 2025 • 12 mins
FIRST WITH YESTERDAY'S NEWS (highlights from Wednesday on Newstalk ZB) Interest In Interest Definitely Falling/Do Prices Ever Go Down?/AI Is the Ultimate Scab/Rugby and Songs/It Started with a Flag
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Episode Transcript
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Speaker 1 (00:09):
You're listening to a podcast from News Talk said B.
Follow this and our wide range of podcasts now on iHeartRadio,
Used Talk, sed B Talk.
Speaker 2 (00:24):
Hello, my beautiful beanies, and welcome to the bean for Thursday.
First of yesterday's news. I am Glenhart, and we are
looking back at Wednesday inflation. It's still there, so sticky,
so chunky. Yes, the teachers strit yesterday. I guess that
that probably worked immediately. There's a Rugby World Cup happening
(00:46):
this weekend, and should cafes be able to put flags
out on the street to tell people to go to them?
But before any of that, yes ocr day, yesterday as well.
This is getting a bit boring, isn't it.
Speaker 3 (01:01):
Up to now they've been talking about two point seventy
five three percent. Maybe now what you should take from
that is that the Reserve Bank is sprized by what
Jared Kerr and you could argue many of us have
been seeing for ages, which is that the economy is properly, properly,
properly stuffed, like stuffed enough that they should be cutting
a lot more than they are. Why this is a
(01:22):
surprise to them is beyond me, because you just need
to look at what's going on with business today. To
see at Fletcher a massive loss, spark profit down, massively,
huge job cuts there, kitchen things in receivership. Now, some
of that will be absolutely because of poor decisions, but
some of that is because we are in an economic
funk come recession as bad as anything in my entire life.
(01:43):
I mean, the last time we saw anything this bad
was the eighties, some indicators say the seventies. So why
the Reserve Bank hasn't cut more, including today, is baffling.
They debated it, by the way, it did occur to them.
Four of them voted for the twenty five percent of
the twenty five basis point cut that we got. Two
of them voted for a double cut of fifty basis points.
(02:04):
Two of them can see what the rest of us
can see, but the four wins. Unfortunately, the fact that
they cut today and indicated they will cut more than
they had previously expected to cut is a sign that
they made a mistake when they didn't cut last time
and opted to hold instead. The Reserve Bank is once
again caught on the hop, making the economy worse than
it needs to be. If only Jared Kerr was running.
Speaker 2 (02:26):
The joint now as a bit of a humble brag,
because I've been talking about how little I care about
this stuff lately, and full disclosure, we've recently paid off
our mortgage. I know, congratulations to us, but I think
that does mean that I have so little interest in
(02:49):
interest rates. Now news talk ze been However, if they
have some kind of effect on inflation, I guess I
should be interested. Do they.
Speaker 4 (02:59):
You could do a similar thing with the supermarkets. You
force food stuffs and Woollies to sell one hundred and
twenty supermarkets sell two of their six distribution centers to
a third player, and hey, presto, Thediopoly is dead. Long
live Queen Nicola. Now we're still waiting to see exactly
what cat she's going to pull out of her shopping
bag on this. She has advice considering the options all
(03:21):
that stuff. Here's what I think she will do. We
can get clues from the way that they're handling electricity,
the regulators and the government, which is basically minor changes
to bits and pieces around the edges on stuff like
the super peak hedging contracts, and if things don't change,
look out, we'll regulate, will be meaner, will be tougher.
(03:42):
There's still the Frontier report, of course, which Cabinet is
considering right now, and we'll decide on by the end
of the month. In other words, you tinker and you threaten,
you sound tough enough that voters know you serious, but
not actually go death con one and risk spooking markets
in which you're actually trying to attract investment, and particularly offshore.
Plus Chris Quinn told my show the other day, they
(04:03):
would lawyer up to high heaven and fight anything like this,
so it gets messy. So I reckon they'll tinker on supermarkets.
Options on the cards. You can put supermarkets on the
fast track list, get them built quicker. You can ban
pocketbook pricing. You can empower the existing franchises to be
more independent, buying their stock from wherever they like, setting
(04:24):
their own prices, et cetera, et cetera. Slap a threat
to legislate for the nuclear option across the headline of
your press release. If the tinkering doesn't happen or isn't working,
throw the ball back in the duopolies court. This would
simultaneously satisfy Act which hates the nuclear option, and the
politics of perception. It goes further than labor went, but
(04:46):
doesn't risk the court battles the potential for major changes
not actually working and bringing down prices, which is the
whole point, right, one thing certain, whether it's electricity bills
or check out prices. The chances of a return to
the good old days of pre COVID prices when we
could butter the toast and fire up the heat towel
(05:08):
rail with gay abandon, well there's slim to none.
Speaker 2 (05:12):
You don't hear about people doing things with gay abandon
that much these days. Do you wonder what that is?
Certainly it's unusual for prices to go down once they've
gone up, isn't it that that doesn't often happen?
Speaker 1 (05:25):
You'se talk s right.
Speaker 2 (05:27):
So if you were beset with horrible kids in your
face yesterday, probably because they weren't at school for the
bloody strike.
Speaker 5 (05:37):
You know, surely if you're striking and the deal is
set that you get pay increases and they coming in
December twenty twenty four, wouldn't you be factoring in that
this will last you for a bit, that this will
do you for the next couple of years, or are
(06:00):
parents and teachers going to be seeing kids locked out
every year over months and months and months. This kind
of disruption is completely I would have thought and utterly
unacceptable if there hadn't been a pay settlement in twenty
(06:23):
twenty three, which came into effect in December twenty four,
Philly Boots, I'd be out there with a bloody placard
with you. But how can you justify going out again
and closing the classrooms again after the enormous disruption of
COVID and then the enormous disruption of twenty twenty three
with national strikes and rolling strikes. How can it be
(06:49):
in the best interests of young people and the profession
to do this, to disrupt the schools in this way.
You know, for three point seven six billion dollars for
teachers and principles salary and package agreements, professional package agreements,
(07:14):
maybe we could spend that a different way, you know,
with AI here now, the PPTA has to be very
very careful that they don't strike themselves out of existence.
Speaker 2 (07:29):
Yeah, that's probably true across a lot of industry. Actually,
if you go on striking, nobody notices people are going
to start asking some questions pretty quickly there setting so
Raby World Cup time. Are you as excited about it
(07:50):
as Marcus is.
Speaker 6 (07:52):
I'm excited about the Women's World Cup and rugby and
you get on social media Facebook or Instagram or something
and there's buses of teams off to the World Cup singing.
Speaker 4 (08:06):
It's extraordinary.
Speaker 2 (08:09):
So I don't think.
Speaker 7 (08:10):
I mean, I'm sure it happens in the men's game,
but they don't post videos of it. So it seems
that the women's rugby infecting women's rugby league it were
as well. They are very I suppose they've got to
be the got to promote the sport, to fill the stadiums,
but they're incredibly got on social media, most enjoyable. So
I'm looking forward to meeting some of the personalities in
this Rugby World Cup thing. It's going to be quite exciting.
(08:35):
Of course, it was four years ago that match and
as it was delayed with Covis. That was that match
when the when the All Ferns played England and one
at the last gasp effort with oh the great scenes
afterwards Ruby Tewey singing the song and yeah it was Marvel's.
(08:56):
So yeah, I'm looking forward to that.
Speaker 2 (08:57):
So Marcus is into the Women's World Cup because of
the soundtrack. What is saying, Oh, this is as good
a reason as any news talk has it been, right
if you haven't caught up with it. There was an
interview on the mic hosting Breakfast yesterday morning with a
bloke from tesmand Well from Richmond specifically considered this suburb
(09:26):
suburb of Nelson. Is that what it is for the
town next to Nelson? A bucket up with Nelson around
the corner from Nelson. Anyway, he's been told he can't
put one of those flags out saying hey, this is
where you get coffee. So yeah, that started a staush,
(09:47):
isn't it.
Speaker 8 (09:47):
The Testamon District Council spent millions of dollars reconfiguring that street,
and it's so narrow you've gotta look straight ahead. If
you start looking to the side to see who's open
and who's not, you're gonna hit something. And I also,
I can stand to be corrected, and I'm gonna have
a look tomorrow morning. But I'm pretty sure that because
the council also and a huge number of big wide
(10:10):
planter boxes down that street, that that sign is between
two planter boxes. So if you can't hit the sign
without hitting the planter box. So I failed to see
how it's going to impede anybody. That's just that's the
most ridiculous thing I've ever heard. I agree that sign
needs to be there. It does them good. I'm sure
(10:30):
it does. And the fact that anyone could say that
that is an impediment or is going to hurt anybody
is just ridiculous.
Speaker 3 (10:39):
And you're stop in there and buy some coffee.
Speaker 8 (10:40):
Mat Absolutely good coffee, great coffee, good, toasty toasted.
Speaker 7 (10:45):
Sandwiches, ye does toasty.
Speaker 8 (10:50):
Ham and cheese nice? Yeah, good onion maybe, But I
don't have to talk to somebody too closely.
Speaker 9 (10:56):
You know, I'm a big fan of a This is
off topic, but cream caught spicy cream corn toasted sandwich.
Speaker 8 (11:04):
Wife is if I want to make my wife happy,
cream corn on vogels with salt and pepper and tasty cheese.
Speaker 9 (11:12):
All right, your wife has got I was just trying
to wake this out so ches No, I can't work about.
Speaker 4 (11:18):
She's got good taste?
Speaker 9 (11:19):
Well yeah yeah, And I was saying we're both called
Matt and we both like that. But I couldn't do
the math on how that works.
Speaker 8 (11:24):
Out for you don't want to go too far.
Speaker 9 (11:26):
Yeah, I was going to say something in appropriate one.
Speaker 2 (11:28):
But confused there. But that's that's the great thing about
talk about radio. It starts in one place and before
you know, you've got two mets serving their wives cream
corn something. I hate it when people talk about tasty cheese, though,
I remember when I was allowed to eat cheese. Those
were the days. Once again, the podcast ends, and I'm hungry.
(11:53):
I will see you back here again tomorrow. More flags,
more cream corn, who knows, who knows what'll have? More singing.
Speaker 9 (12:06):
We'll see you thenk zed bean.
Speaker 1 (12:11):
For more from News Talk zt B. Listen live on
air or online, and keep our shows with you wherever
you go with our podcasts on iHeartRadio
You're listening to a podcast from News Talk said B.
Follow this and our wide range of podcasts now on iHeartRadio,
Used Talk, sed B Talk.
Speaker 2 (00:24):
Hello, my beautiful beanies, and welcome to the bean for Thursday.
First of yesterday's news. I am Glenhart, and we are
looking back at Wednesday inflation. It's still there, so sticky,
so chunky. Yes, the teachers strit yesterday. I guess that
that probably worked immediately. There's a Rugby World Cup happening
(00:46):
this weekend, and should cafes be able to put flags
out on the street to tell people to go to them?
But before any of that, yes ocr day, yesterday as well.
This is getting a bit boring, isn't it.
Speaker 3 (01:01):
Up to now they've been talking about two point seventy
five three percent. Maybe now what you should take from
that is that the Reserve Bank is sprized by what
Jared Kerr and you could argue many of us have
been seeing for ages, which is that the economy is properly, properly,
properly stuffed, like stuffed enough that they should be cutting
a lot more than they are. Why this is a
(01:22):
surprise to them is beyond me, because you just need
to look at what's going on with business today. To
see at Fletcher a massive loss, spark profit down, massively,
huge job cuts there, kitchen things in receivership. Now, some
of that will be absolutely because of poor decisions, but
some of that is because we are in an economic
funk come recession as bad as anything in my entire life.
(01:43):
I mean, the last time we saw anything this bad
was the eighties, some indicators say the seventies. So why
the Reserve Bank hasn't cut more, including today, is baffling.
They debated it, by the way, it did occur to them.
Four of them voted for the twenty five percent of
the twenty five basis point cut that we got. Two
of them voted for a double cut of fifty basis points.
(02:04):
Two of them can see what the rest of us
can see, but the four wins. Unfortunately, the fact that
they cut today and indicated they will cut more than
they had previously expected to cut is a sign that
they made a mistake when they didn't cut last time
and opted to hold instead. The Reserve Bank is once
again caught on the hop, making the economy worse than
it needs to be. If only Jared Kerr was running.
Speaker 2 (02:26):
The joint now as a bit of a humble brag,
because I've been talking about how little I care about
this stuff lately, and full disclosure, we've recently paid off
our mortgage. I know, congratulations to us, but I think
that does mean that I have so little interest in
(02:49):
interest rates. Now news talk ze been However, if they
have some kind of effect on inflation, I guess I
should be interested. Do they.
Speaker 4 (02:59):
You could do a similar thing with the supermarkets. You
force food stuffs and Woollies to sell one hundred and
twenty supermarkets sell two of their six distribution centers to
a third player, and hey, presto, Thediopoly is dead. Long
live Queen Nicola. Now we're still waiting to see exactly
what cat she's going to pull out of her shopping
bag on this. She has advice considering the options all
(03:21):
that stuff. Here's what I think she will do. We
can get clues from the way that they're handling electricity,
the regulators and the government, which is basically minor changes
to bits and pieces around the edges on stuff like
the super peak hedging contracts, and if things don't change,
look out, we'll regulate, will be meaner, will be tougher.
(03:42):
There's still the Frontier report, of course, which Cabinet is
considering right now, and we'll decide on by the end
of the month. In other words, you tinker and you threaten,
you sound tough enough that voters know you serious, but
not actually go death con one and risk spooking markets
in which you're actually trying to attract investment, and particularly offshore.
Plus Chris Quinn told my show the other day, they
(04:03):
would lawyer up to high heaven and fight anything like this,
so it gets messy. So I reckon they'll tinker on supermarkets.
Options on the cards. You can put supermarkets on the
fast track list, get them built quicker. You can ban
pocketbook pricing. You can empower the existing franchises to be
more independent, buying their stock from wherever they like, setting
(04:24):
their own prices, et cetera, et cetera. Slap a threat
to legislate for the nuclear option across the headline of
your press release. If the tinkering doesn't happen or isn't working,
throw the ball back in the duopolies court. This would
simultaneously satisfy Act which hates the nuclear option, and the
politics of perception. It goes further than labor went, but
(04:46):
doesn't risk the court battles the potential for major changes
not actually working and bringing down prices, which is the
whole point, right, one thing certain, whether it's electricity bills
or check out prices. The chances of a return to
the good old days of pre COVID prices when we
could butter the toast and fire up the heat towel
(05:08):
rail with gay abandon, well there's slim to none.
Speaker 2 (05:12):
You don't hear about people doing things with gay abandon
that much these days. Do you wonder what that is?
Certainly it's unusual for prices to go down once they've
gone up, isn't it that that doesn't often happen?
Speaker 1 (05:25):
You'se talk s right.
Speaker 2 (05:27):
So if you were beset with horrible kids in your
face yesterday, probably because they weren't at school for the
bloody strike.
Speaker 5 (05:37):
You know, surely if you're striking and the deal is
set that you get pay increases and they coming in
December twenty twenty four, wouldn't you be factoring in that
this will last you for a bit, that this will
do you for the next couple of years, or are
(06:00):
parents and teachers going to be seeing kids locked out
every year over months and months and months. This kind
of disruption is completely I would have thought and utterly
unacceptable if there hadn't been a pay settlement in twenty
(06:23):
twenty three, which came into effect in December twenty four,
Philly Boots, I'd be out there with a bloody placard
with you. But how can you justify going out again
and closing the classrooms again after the enormous disruption of
COVID and then the enormous disruption of twenty twenty three
with national strikes and rolling strikes. How can it be
(06:49):
in the best interests of young people and the profession
to do this, to disrupt the schools in this way.
You know, for three point seven six billion dollars for
teachers and principles salary and package agreements, professional package agreements,
(07:14):
maybe we could spend that a different way, you know,
with AI here now, the PPTA has to be very
very careful that they don't strike themselves out of existence.
Speaker 2 (07:29):
Yeah, that's probably true across a lot of industry. Actually,
if you go on striking, nobody notices people are going
to start asking some questions pretty quickly there setting so
Raby World Cup time. Are you as excited about it
(07:50):
as Marcus is.
Speaker 6 (07:52):
I'm excited about the Women's World Cup and rugby and
you get on social media Facebook or Instagram or something
and there's buses of teams off to the World Cup singing.
Speaker 4 (08:06):
It's extraordinary.
Speaker 2 (08:09):
So I don't think.
Speaker 7 (08:10):
I mean, I'm sure it happens in the men's game,
but they don't post videos of it. So it seems
that the women's rugby infecting women's rugby league it were
as well. They are very I suppose they've got to
be the got to promote the sport, to fill the stadiums,
but they're incredibly got on social media, most enjoyable. So
I'm looking forward to meeting some of the personalities in
this Rugby World Cup thing. It's going to be quite exciting.
(08:35):
Of course, it was four years ago that match and
as it was delayed with Covis. That was that match
when the when the All Ferns played England and one
at the last gasp effort with oh the great scenes
afterwards Ruby Tewey singing the song and yeah it was Marvel's.
(08:56):
So yeah, I'm looking forward to that.
Speaker 2 (08:57):
So Marcus is into the Women's World Cup because of
the soundtrack. What is saying, Oh, this is as good
a reason as any news talk has it been, right
if you haven't caught up with it. There was an
interview on the mic hosting Breakfast yesterday morning with a
bloke from tesmand Well from Richmond specifically considered this suburb
(09:26):
suburb of Nelson. Is that what it is for the
town next to Nelson? A bucket up with Nelson around
the corner from Nelson. Anyway, he's been told he can't
put one of those flags out saying hey, this is
where you get coffee. So yeah, that started a staush,
(09:47):
isn't it.
Speaker 8 (09:47):
The Testamon District Council spent millions of dollars reconfiguring that street,
and it's so narrow you've gotta look straight ahead. If
you start looking to the side to see who's open
and who's not, you're gonna hit something. And I also,
I can stand to be corrected, and I'm gonna have
a look tomorrow morning. But I'm pretty sure that because
the council also and a huge number of big wide
(10:10):
planter boxes down that street, that that sign is between
two planter boxes. So if you can't hit the sign
without hitting the planter box. So I failed to see
how it's going to impede anybody. That's just that's the
most ridiculous thing I've ever heard. I agree that sign
needs to be there. It does them good. I'm sure
(10:30):
it does. And the fact that anyone could say that
that is an impediment or is going to hurt anybody
is just ridiculous.
Speaker 3 (10:39):
And you're stop in there and buy some coffee.
Speaker 8 (10:40):
Mat Absolutely good coffee, great coffee, good, toasty toasted.
Speaker 7 (10:45):
Sandwiches, ye does toasty.
Speaker 8 (10:50):
Ham and cheese nice? Yeah, good onion maybe, But I
don't have to talk to somebody too closely.
Speaker 9 (10:56):
You know, I'm a big fan of a This is
off topic, but cream caught spicy cream corn toasted sandwich.
Speaker 8 (11:04):
Wife is if I want to make my wife happy,
cream corn on vogels with salt and pepper and tasty cheese.
Speaker 9 (11:12):
All right, your wife has got I was just trying
to wake this out so ches No, I can't work about.
Speaker 4 (11:18):
She's got good taste?
Speaker 9 (11:19):
Well yeah yeah, And I was saying we're both called
Matt and we both like that. But I couldn't do
the math on how that works.
Speaker 8 (11:24):
Out for you don't want to go too far.
Speaker 9 (11:26):
Yeah, I was going to say something in appropriate one.
Speaker 2 (11:28):
But confused there. But that's that's the great thing about
talk about radio. It starts in one place and before
you know, you've got two mets serving their wives cream
corn something. I hate it when people talk about tasty cheese, though,
I remember when I was allowed to eat cheese. Those
were the days. Once again, the podcast ends, and I'm hungry.
(11:53):
I will see you back here again tomorrow. More flags,
more cream corn, who knows, who knows what'll have? More singing.
Speaker 9 (12:06):
We'll see you thenk zed bean.
Speaker 1 (12:11):
For more from News Talk zt B. Listen live on
air or online, and keep our shows with you wherever
you go with our podcasts on iHeartRadio
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